Where the money is: Investment banking GCCs are paying highest salaries across BFSI, finds study

Investment banking global capability centres (GCCs) are offering the highest salaries across India's BFSI landscape this year, according to a new report by talent solutions provider Careernet. The investment GCCs have outpaced retail and commercial banking, financial services, and insurance GCCs across most roles and experience levels. 

The findings, released in the company's latest study 'BFSI GCCs in India: Salary Benchmarks and Market Trends', underline how digital transformation, fintech innovation and regulatory shifts are changing compensation patterns for India's tech and data workforce.

The report draws from current compensation data of around 50,000 professionals in FY 2025–26 across four GCC segments. Careernet said the study provides a granular view of emerging salary benchmarks across nine core roles - Data Scientist, Big Data Engineer, Product Owner, Full-Stack Developer, SDET, DevOps Engineer, Scrum Master, Data Analyst and Cybersecurity Specialist - spanning four experience tiers from 3 to 16 years.

Data scientists, full-stack developers command premium pay

The analysis shows that Data Scientists in investment banking earn between Rs 22.1 lakh and Rs 46.9 lakh annually. Those in retail banking and insurance draw slightly lower ranges of Rs 19.9 lakh–Rs 44.5 lakh and Rs 18.4 lakh–Rs 44.3 lakh, respectively.

Full-Stack Developers also see the sharpest premium in investment banking, from Rs 20.7 lakh at the junior level to Rs 47.5 lakh for senior talent — reflecting the value placed on professionals who manage large-scale, mission-critical systems.

By contrast, roles such as Scrum Master and Cybersecurity Specialist start with more modest entry-level pay but show long-term salary acceleration. Cybersecurity, in particular, sees steep increases at senior levels due to the rising importance of digital security and risk mitigation.

Digital maturity, risk-linked roles shaping compensation

The report notes that while investment banking continues to lead compensation for technology and data professionals, other BFSI segments are narrowing the gap as they accelerate their digital transformation agendas. Retail and commercial banking GCCs operate with structured salary bands geared towards hybrid business–technology roles. The insurance sector, although starting from a lower base, offers rapid salary expansion at senior levels as it scales automation and analytics-based innovation.

"BFSI GCCs are at an inflection point, evolving from operational support hubs into sophisticated value-creation engines that design, engineer, and safeguard the digital backbone of global finance," says Ranjeet Singh Narang, Sector Leader for BFSI GCCs at Careernet. "Investment banking GCCs are leading this reinvention, embedding technology and data science into the fabric of strategic decision-making to enhance automation, resilience, and regulatory precision."

According to the report, specialised technology and data roles continue to command the highest compensation across BFSI GCCs, with cloud, analytics and cybersecurity skills driving long-term value as organisations shift toward more knowledge-intensive, innovation-led operating models.